4.4 Legal risk - Scor

Additional information on the timing of repayments is included in this note.
(a) Maturity profiles
(i)
SCOR Global P&C
The technical reserves of SCOR Global P&C are established on an undiscounted basis (except workers compensation). The
table below includes the estimated maturity profiles of the Non-Life insurance liabilities based on payment patterns derived
from historical data.
Non-Life insurance liabilities
In EUR million 0-1 year 1-3 years 3-7 years > 7 years Total
As at 31 December 2012 3,624 3,584 2,729 2,602 12,539
As at 31 December 2011 3,598 3,223 2,716 2,581 12,118
The analysis of the balance sheet reserve movements, including net paid losses is included in Note 16 - Contract liabilities.
(ii)
SCOR Global Life
The projections for insurance liabilities of the Life segment have been prepared on a best estimate basis. The amounts
below represent the estimated maturity profile of the gross liabilities. For long term life reinsurance, benefit payments are
typically settled net of premiums (for treaties with periodic premium payments). Where liabilities are deposited with the client,
the settlement normally also includes certain other account items, primarily the release of the deposits. For contracts where
funds held are used to offset the amounts settled between SCOR and its cedants, funds held to cover the life insurance
liabilities in the table below mature at the same date as the respective life insurance liabilities.
Life claim reserves are predominantly paid out within zero to five years.
The table below reflects gross cash outflows.
Life insurance liabilities
In EUR million < 1 year 1-5 years 6-10 years > 10 years Total
As at 31 December 2012 1,883 962 1,071 7,237 11,153
As at 31 December 2011 1,864 953 1,061 7,166 11,044
(b) Financial debt
Maturity profiles have been prepared based on undiscounted contractual maturities and include contractual interest
payments. In the case of perpetual debt, or debt which is subject to multiple optional reimbursement dates, the analysis
below has been prepared based on the assumption that the Company does not make use of any of the early optional
reimbursement dates. Perpetual debt is classified within the column “more than 5 years” due to an absence of a maturity
date. Of the amounts below, EUR 179 million (1) (2011: EUR 253 million) relates to variable rate debt.
At 31 December 2012
Debt maturity profiles
In EUR million
Interest rate
ranges
Less than 1
year
Between 1
to 5 years
Greater than
5 years (2) TOTAL
Subordinated debt 2.11% - 6.98% 70 244 1,257 1,571
Other financial debt 3.43% - 4.47% 72 159 269 500
TOTAL 142 403 1,526 2,071
At 31 December 2011
Debt maturity profiles
Interest rate Less than 1 Between 1 to Greater than
In EUR million
ranges
year 5 years
(2)
5 years
TOTAL
Subordinated debt 2.38% - 6.98% 57 222 1,022 1,301
Other financial debt 3.43% - 4.57% 32 192 291 515
TOTAL 89 414 1,313 1,816
(1) This amount excludes subordinated perpetual debt which has been swapped from variable interest rate to fixed interest rate
(2) The interests for perpetual debt as at 31 December 2012 represent EUR 41 on a yearly basis (2011: EUR 33 million)
Maturity analyses of financial assets that are held for managing liquidity risk are presented within Note 6 - Insurance
business investments.
The Group holds a finance lease which contains an option to purchase an investment property at the end of the lease term.
The amount of the minimum payments and their discounted values are presented within Note 5 - Tangible assets and real
estate investments. In addition, various entities in the Group rent their office headquarters. The minimum payments relating
to these operating leases are presented within Note 5 - Tangible assets and real estate investments.
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